Record US coal shipments to China highlights Australia's pain
China’s import ban on Australian coal is proving a boon to U.S. producers.
On June 28, the Frontier Unity bulk vessel left the port of Newport News, Virginia with a 136 400-t cargo bound for steelmakers in China. It was the biggest shipment of its kind from a US east coast port, according to miner Coronado Global Resources.
For Coronado, it marks a stark turnaround in the fortunes of its US mines, which were temporarily idled in March last year after pandemic lockdowns crushed demand. The company is benefiting from a rally in prices and China’s ban on Australian coal, which in March helped boost exports from the US to the Asian nation to their highest since 2013.